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OMV needed a technology partner to support the restructuring of their energy trading operations that could deliver a flexible scheduling and balancing solution as well as incorporate other business requirements into daily workflows over time. Visotech – now Trayport – emerged as the clear winner following due diligence on potential third party suppliers.
The Challenge
In 2009, one of Austria’s largest listed oil and gas producers, OMV, made the decision to restructure their energy trading operations and pivot towards a more integrated approach to power and gas trading. A fundamental requirement was to implement a software solution that could cover schedule management against the background of the new central business model of “asset-backed trading“.
The greatest challenge came from the requirement to support numerous commodities with a multitude of formats, units, and time zones across countless markets within a single schedule management solution. Due to the greenfield approach required for this project, the system needed to be designed in cooperation with OMV. Initially, the solution included a few specified core markets (Turkey, Romania, Germany, and Austria) but with the ability to include additional markets when required.
The Solution – Scheduling and Balancing
With a comprehensive scheduling solution, and having completed reference projects of a comparable scale and similar complexity, VisoTech – now Trayort – emerged as a promising partner for the project implementation from the beginning. Our Scheduling and Balancing solution inherently supports numerous markets and formats. At the same time, we provide users with the ability to easily expand to include additional markets and our modular approach was a significant factor in driving the adoption of our scheduling solution forward.
The Result – An Integrated Solution
Once our Scheduling and Balancing solution was implemented, it presented a clear view of the cross-market and transnational commodity trades within the system, despite their complexity and multitude of parameters. The implementation and the gradual expansion to include further markets were successfully executed in the planned time frame and in compliance with the forecasted budget. As a result of the flexibility of our platform, the changes and updates required for a project of this magnitude and complexity were easy to deploy.